GoMining Competes with Block's Square by Launching Bitcoin-Only Payment SDK and API
GoMining, a bitcoin mining company, has introduced a software development kit (SDK) and API for its GoBTC Pay protocol, enabling merchants to accept bitcoin for everyday purchases. Unlike competitors like Block's Square, which convert bitcoin to fiat by default, GoMining ensures merchants receive bitcoin directly, preserving the cryptocurrency's native properties. The system settles on the Bitcoin network using Stratum V2 mining protocol, with an average settlement time of 12 hours and a transaction fee of 0.2%, split between wallet providers and miners. CEO Mark Zalan emphasized that the goal is to solve real problems with BTC payments—high fees and slow settlement—while maintaining non-custody and onchain finality. GoMining plans to onboard 10 initial merchants. This move positions GoMining against Square's Lightning-based bitcoin payment service, which defaults to fiat conversion, highlighting a growing divide in how businesses handle crypto payments.
Key facts
- GoMining launches SDK and API for its bitcoin payment protocol GoBTC Pay.
- Merchants receive bitcoin directly, not fiat, distinguishing it from competitors.
- Settlement occurs on Bitcoin network via Stratum V2, averaging 12 hours.
- Transaction fee is 0.2%, split between wallet providers and miners.
- GoMining plans to recruit 10 initial merchants for the rollout.